Reselling timeshare q's?

So I have a timeshare at Ozark Mountain Resort


that has grandfathered bonus time, and i may be looking to sell.

I got a letter from a place called www.timeshare-Resale-Broker.com, called them up, and they said they would probably be able to sell mine pretty easily since it has the free Mon-Thurs + 50$ fri-sat Bonus Time , but would take 10% commission, as well as a refundable $300 fee for listing and marketing.

Is this place legit, or should I go thru someone else?

Any suggestions or insights?

I'm learning about timeshares as well, but they suggest not to pay any upfront fees. The reputable companies will take their commission off of the sale. I've seen posts about companies that charge an upfront fee and never sell the timeshare. All this is just from reading here on tug so do t quote me on it

They will take your upfront fee, and make no attempt to sell your timeshare - why should they? They already have your money.

The sad truth is that your timeshare (and MOST timeshares) has no resale value - you may be hard pressed to even give it away.

I don't have any knowledge of this broker but I have always heard/read that Silverleaf bonus time does NOT transfer via resale. One time I did have it transfer, but it is official policy that it does not. When I bought resale I even had to check a box on the contract saying BT does not transfer. But it did anyway.

In my opinion and experience it can happen but don't count on it. If the broker can GUARANTEE (money back) that the BT will transfer, that might be another thing. But I don't know that they can really do it.

strider said:

So I have a timeshare:
Ozark Mountain Resort
unit 90 week E36
Destination, Standard
Red Time

that has grandfathered bonus time, and i may be looking to sell.

I got a letter from a place called www.timeshare-Resale-Broker.com, called them up, and they said they would probably be able to sell mine pretty easily since it has the free Mon-Thurs + 50$ fri-sat Bonus Time , but would take 10% commission, as well as a refundable $300 fee for listing and marketing.

Is this place legit, or should I go thru someone else?

Any suggestions or insights?

Click to expand...

Do you have a contract from SL explicitly stating that the bonus time will transfer upon resale? If you do you might have something that is worth selling but still probably no worth enough to get a broker involved. Did they give you a ball park figure on the suggested listing price? I am sure it is overpopulated above market by quite a bit. They have Silverleaf units listed for $27,000 on their website. Without the bonus time guarantee your TS is worth in the $0-500 range tops and even that figure may require you to pay some of the closing and transfer costs. With bonus time you may be looking in the $1000-$3000 range.

Thanks for the replies guys. Well, I talked to him and he said the Endless Escape is what is NOT transferrable(which i do not have anyways)...but the Bonus time IS.

He said, he would have everything in writing, all the terms and agreements, so i suppose that eases away some concerns.

The guy's name is Charles Young. http://www.har.com/AWS/aws.cfm?Agent_Number=396761&t=n , member of The Houston Association or Realtors

I guess I'm gonna have to do some more research.

i'll have to check the contract..to be sure i guess

you will find the TUG guideline is never to pay upfront fees for selling or renting of a Timeshare.

ignoring (or simply not knowing) this advice has cost tens of thousands of timeshare owners countless millions of dollars in lost fees.

So they sent you a postcard asking if you are interested in selling. You called them and they told you that you could sell in the 20,000 or so range and it has a good chance of selling but they need $300 upfront and the 10% after the sale.

There are over a hundred units listed from your resort. I think they will legitimately list your unit and then the listing will collect dust like the 100+ from your resort.

And it seems you are basing the grandfathering from what the broker told you not based on your contract or any conversations with Silverleaf. If the grandfather's were based on date then at least some of the listings would include the time.

strider said:

Thanks for the replies guys. Well, I talked to him and he said the Endless Escape is what is NOT transferrable(which i do not have anyways)...but the Bonus time IS.

He said, he would have everything in writing, all the terms and agreements, so i suppose that eases away some concerns.

The guy's name is Charles Young. http://www.har.com/AWS/aws.cfm?Agent_Number=396761&t=n , member of The Houston Association or Realtors

I guess I'm gonna have to do some more research.

Click to expand...

Since when did Harris County, TX have authority over real estate sales in Missouri, the brokerage is in Montgomery County Texas